{"id":486823,"date":"2024-03-07T17:08:54","date_gmt":"2024-03-07T17:08:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=486823"},"modified":"2024-03-07T17:08:54","modified_gmt":"2024-03-07T17:08:54","slug":"shiba-inu-price-prediction-shib-plummets-14-as-experts-say-this-new-green-ico-might-be-the-best-crypto-to-buy-now","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/shiba-inu-price-prediction-shib-plummets-14-as-experts-say-this-new-green-ico-might-be-the-best-crypto-to-buy-now","title":{"rendered":"Shiba Inu Price Prediction: SHIB Plummets 14% As Experts Say This New Green ICO Might Be The Best Crypto To Buy Now"},"content":{"rendered":"

The Shiba Inu price has plunged 14% in the last 24 hours <\/span>to trade at $0.00003198<\/span><\/a> as of 7 a.m. EST on a 60% drop in trading volume to $4.7 billion.<\/span><\/p>\n

SHIB’s fall comes amid a broad selloff in the meme coin sector after a surging rally fired by Bitcoin’s pump to a new all-time high.<\/span><\/p>\n

The Shiba Inu Price: Buyers Gearing Up For Another Bull Rally?<\/span><\/h2>\n

\"Shiba<\/span>SHIBUSDT Analysis By Tradingview<\/span><\/p>\n

The Shiba Inu price indicates a gradual uptrend after experiencing an extended period of consolidation. During this time, a support zone was formed at $0.00001030, which aided the bulls in driving the price upwards.<\/span><\/p>\n

Yet, the bulls encountered resistance when the price reached the $0.00004512 level, resulting in pressure from the bears, pushing the price down to $0.00002853. This formation has created a bullish pennant, indicating a continuation of the bullish trend.<\/span><\/p>\n

The bulls have shown resilience, rebounding twice as they gather forces on the $0.00002853 support level to initiate a bull rally above the bullish pennant.<\/span><\/p>\n

The price trades above the 50-day and 200-day Simple Moving Averages (SMAs), which currently support the price. The moving average cross at $0.00001040 affirms the generally bullish outlook for Shiba Inu price.<\/span><\/p>\n

The Relative Strength Index (RSI) also indicates a downtrend as it consolidates on the 50 midline level. A rebound from this level could see the RSI surge back to the overbought region, indicating intense buying pressure for the Shiba Inu price.<\/span><\/p>\n

The Shiba Inu Price Bulls Target $0.00006288 Mark Above The Pennant<\/span><\/h2>\n

Shiba Inu price is a bullish bias as the bulls aim to push the price to the $0.00006288 mark. The support zone at $0.00002863 and the golden cross at $0.00001040 support further upside potential. If the momentum sustains strongly, a breach above this level could see SHIB reach a new all-time high in the upcoming weeks.<\/span><\/p>\n

Conversely, the RSI  being in the overbought region could trigger a potential price correction. This might encourage the bears to take control and drive the price down, forcing the bulls to retreat to the $0.00001216 support zone.<\/span><\/p>\n

As Shiba Inu traders await favourable new entry positions, some investors are being drawn to the new eTukTuk token, which is opening doors to a greener future in transportation with its $TUK token presale. <\/span><\/p>\n

Go Green With eTukTuk Token<\/span><\/h2>\n

eTukTuk<\/a> is an innovative transportation initiative with eco-friendly ambitions and the potential to bring positive change to developing nations. Its presale has already amassed over $1.78 million. <\/span><\/p>\n

The project is dedicated to assisting TukTuk drivers in developing countries of South Asia and Africa in a bid to address issues related to carbon emissions, improve public health, and promote financial inclusivity.<\/span><\/p>\n

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\"Breakout crypto eTukTuk is working on improving urban transportation in developing nations with electric vehicles and blockchain technology.\" – @cryptonews<\/a> <\/p>\n

Read more here: https:\/\/t.co\/7hr62WePzm<\/a><\/p>\n

— eTukTuk (@eTukTukio) February 8, 2024<\/a><\/p><\/blockquote>\n